Covansys plans to up headcount by 50%

Covansys (India) Private Limited (Covansys), a global consulting and technology services company, is planning to increase its headcount by 50 per cent by adding about 1,800 employees, thereby taking the total number of employees to 5,400 by the end of 2005.

"The increasing of the headcount is part of our on-site, off-site and off-shore delivery model to provide better value to our global customers. The employees to be added will service all the verticals that we currently operate in, including BFSI, manufacturing, retail and software engineering," said K Subrahmaniam, president and CEO, Covansys.

The company's Chennai facility will accomodate 1,000 of the proposed 1,800 addition in employees with the remaining 800 being split between its consulting facility in Mumbai and software development facility in Bangalore.

Besides the organic growth Covansys is also on the lookout to acquire companies with the right synergistic fit.

"We are always open to the idea of acquiring new businesses whose clients are inclined to offshore most of their requirements. We have no budgetary constraints when it comes to companies which will enhance our service offerings and increase our client base," Subrahmaniam added.

Covansys which signed partnerships with Fidelity Information Systems, Bearing Point and Peoplesoft in the recent past in an attempt to increase its clientele, product offerings and geographic spread is looking at partnering with more such companies.

"We are already in talks with a few more companies to sign them on as strategic partners and should be able to make an announcement regarding this in the next two months," remarked Subrahmaniam.

Covansys is a 100 per cent subsidiary of the Michigan-headquartered Covansys Corporation, with revenues of $378 million in 2003 and 5600 employees worldwide.